Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Purchased by Cwm LLC

Cwm LLC boosted its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 65.1% in the 3rd quarter, Holdings Channel reports. The firm owned 2,244 shares of the insurance provider’s stock after acquiring an additional 885 shares during the quarter. Cwm LLC’s holdings in Reinsurance Group of America were worth $489,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RGA. Earnest Partners LLC lifted its stake in shares of Reinsurance Group of America by 1.9% in the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock worth $539,476,000 after buying an additional 50,228 shares in the last quarter. Sei Investments Co. lifted its stake in Reinsurance Group of America by 5.9% in the 2nd quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock worth $169,497,000 after purchasing an additional 45,709 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Reinsurance Group of America by 2.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock worth $112,668,000 after purchasing an additional 15,926 shares during the last quarter. Zurich Insurance Group Ltd FI grew its position in shares of Reinsurance Group of America by 681.8% in the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after purchasing an additional 442,883 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Reinsurance Group of America by 43.8% in the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock valued at $89,758,000 after purchasing an additional 133,212 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Reinsurance Group of America Price Performance

RGA opened at $216.82 on Friday. The firm has a market cap of $14.27 billion, a price-to-earnings ratio of 16.85 and a beta of 0.91. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52. The stock’s 50-day moving average price is $214.55 and its 200 day moving average price is $207.51. Reinsurance Group of America, Incorporated has a 12-month low of $144.74 and a 12-month high of $227.87.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the firm posted $4.40 earnings per share. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 21.8 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a $0.89 dividend. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.64%. Reinsurance Group of America’s payout ratio is 27.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Piper Sandler lifted their target price on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. TD Cowen assumed coverage on shares of Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 target price on the stock. Finally, Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.62.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.